AGNIT Semiconductors, a Bengaluru-based firm focused on Gallium Nitride (GaN), has secured $3.5 million in a seed round led by 3one4 Capital and Zephyr Peacock, signifying their initial investment in the Indian semiconductor industry.
Renowned angel investor Lakshmi Narayanan, a former CEO of Cognisant, also participated in the round. The business, which has raised $4.87 million in total funding thus far, intends to expand up production and commercial activities with the additional funds.
In response to the rapidly shifting market demands, AGNIT is also branching out into new markets, such as consumer electronics and electric two-wheelers. In the upcoming 12 months, the company also hopes to sell 100,000 semiconductor chips.
Pranav Pai, Founding Partner and CIO, 3one4 Capital said “Agnit Semiconductors is breaking new ground by advancing Gallium Nitride technology in India, a critical component for the future of global electronics and energy systems. Agnit represents the new wave of Indian deep tech startups – born from rigorous research, focused on critical technologies, and positioned for global impact. We are excited to partner with Agnit as they scale their operations and take Indian semiconductor technology to the global market.
AGNIT is one of the first startups incubated by the Gallium Nitride Ecosystem Enabling Centre and Incubator, managed by the Foundation for Science Innovation and Development (FSID) at the Indian Institute of Science (IISc) and funded by the Ministry of Electronics and Information Technology (MeITY).
The firm was recognised by the Karnataka government for their innovative GaN semiconductor technology. AGNIT inked an MoU with the Ministry of Defence under the iDEX program to design and build GaN-based wireless transmitters for defence applications in support of the ‘Make in India’ push.
About AGNIT
GaN semiconductor manufacturer AGNIT Semiconductors Private Limited located in Bangalore, India. GaN wafers and electronic components for radio-frequency applications are their speciality.
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